Drug innovation stifled by ObamaCare?

21 State Lawsuit ^ | 2/16/11 | 21State

[The Doctor]

While it is common knowledge that the health care industry is not happy with the rules and regulations of the health care law, the National Review brings up this question: Will the implementation of ObamaCare stifle the creation of new drugs and treatments?

To answer this question, the National Review observes that Pharmaceutical Research and Manufacturers of America (PhRMA) made a deal with the Obama Administration that they would be able to market their drugs without generic competition for 12 years. The administration reneged on that deal and reduced the 12 years to 7 years. And there are many more factors that will hurt PhRMA and, in turn, all those who suffer from cancer and other diseases and whose possibility of survival depends on pharmaceutical innovation.

[HiTech RedNeck]

How does “Obama” get to singlehandedly change the terms of patent law?

[ConjunctionJunction]

Robert Reich: "Also I'm going to use the bargaining leverage of the federal government in terms of Medicare, Medicaid---we already have a lot of bargaining leverage---to force drug companies and insurance companies and medical suppliers to reduce their costs. What that means, less innovation and that means less new products and less new drugs on the market which means you are probably not going to live much longer than your parents."

http://newsbusters.org/blogs/p-j-gladnick/2009/10/13/robert-reich-reveals-brutal-health-care-truths-msm-snores#ixzz1EA2YKiMF

[Honorary Serb]

....Drug innovation stifled by ObamaCare?...

Answer: YES!!!!

The article talks about “giant” phama companies. But stifling of innovation also hurts struggling biotech companies, university researchers, and disease organizations.

obamacare: BAD for drug and device companies, patients, doctors, nurses, hospitals, universities, communities, and our entire nation!!!! Bad for freedom. Good for government bureaucrats, union goons, and obama’s cronies. And REALLY good for the muslim enemies of civilization, because a weakened America will make it that much easier for them to conquer the world!!!!

Repeal it, defund it, declare it unconstitutional!!! Make DeathCare go down the memory hole!!!!

[DrC]

Obama cut deals with doctors, drug companies, insurance companies and hospitals to get Obamacare enacted.
1. The doctors were promised a permanent “doc fix” that was excluded from the bill finally passed;
2. The drug companies were promised 12 years of patent protection that Obama now has whittled down to 7 years.
3. Insurance companies were promised a mandate that would guarantee tens of millions of new customers, but Obamacare’s enforcement penalties (thankfully) were so tepid that millions of uninsured are expected to ignore the mandate since it would be way cheaper to just pay the penalty. Moreover, the mandate has been declared unconstitutional, so unless SCOTUS concurs with the FL judge that the entire bill should be scrapped, the insurance companies are going to end up with many expensive rules and mandates but without the healthy customer base they had hoped to shift these costs onto.
4. All that’s left is for the administration to announce how they plan to shaft hospitals.

It’s hard to feel sorry for these industries that knowingly made their deals with the devil. One might be tempted to point out they’ve gotten exactly what they deserve.

[GRRRRR]

I work for a major BioTech Company. It was stated by our CEO that ObamaCare cost us $65 BILLION in FY 2010.

Imagine if we could have put that money into R&D or employee bonuses? Much better stimulus than sending it to the US Trash Hole.

[proudpapa]

Who is John Galt?

[HiTech RedNeck]

Dr. Atlas’s pharmacist?

[The Doctor]

The insurance companies realized what was happening and adjusted prices accordingly, to reduce risk. The docs, however, can’t raise their prices so easily. They’ve been set by the govt. If they accept medicare, they have a maximum reimbursement. The insurance companies have negotiated rates with docs, as well.